Confluent, Inc. (NASDAQ:CFLT - Get Free Report) CAO Kong Phan sold 1,309 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $24.00, for a total value of $31,416.00. Following the sale, the chief accounting officer now owns 243,317 shares of the company's stock, valued at $5,839,608. This trade represents a 0.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Kong Phan also recently made the following trade(s):
- On Tuesday, May 20th, Kong Phan sold 1,890 shares of Confluent stock. The shares were sold at an average price of $21.83, for a total value of $41,258.70.
- On Thursday, March 20th, Kong Phan sold 3,175 shares of Confluent stock. The stock was sold at an average price of $26.86, for a total value of $85,280.50.
Confluent Trading Up 1.3%
Shares of NASDAQ:CFLT traded up $0.32 during mid-day trading on Thursday, hitting $24.41. The stock had a trading volume of 3,886,451 shares, compared to its average volume of 4,894,708. The company's 50 day moving average is $22.11 and its 200-day moving average is $26.76. Confluent, Inc. has a 12-month low of $17.79 and a 12-month high of $37.90. The company has a debt-to-equity ratio of 1.14, a quick ratio of 4.24 and a current ratio of 3.99. The company has a market cap of $8.31 billion, a PE ratio of -22.60 and a beta of 0.98.
Confluent (NASDAQ:CFLT - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.07 by $0.01. Confluent had a negative return on equity of 34.70% and a negative net margin of 35.81%. The company had revenue of $271.12 million during the quarter, compared to analyst estimates of $264.45 million. During the same quarter in the prior year, the company earned $0.05 earnings per share. The company's revenue for the quarter was up 24.8% on a year-over-year basis. On average, sell-side analysts predict that Confluent, Inc. will post -0.83 EPS for the current year.
Institutional Investors Weigh In On Confluent
A number of institutional investors have recently bought and sold shares of the business. Cloud Capital Management LLC purchased a new stake in shares of Confluent in the first quarter worth approximately $26,000. Credit Industriel ET Commercial purchased a new stake in Confluent in the 4th quarter worth approximately $28,000. Versant Capital Management Inc lifted its position in Confluent by 2,458.2% in the 1st quarter. Versant Capital Management Inc now owns 1,714 shares of the company's stock worth $40,000 after buying an additional 1,647 shares in the last quarter. Banque Transatlantique SA acquired a new stake in shares of Confluent during the 1st quarter valued at $43,000. Finally, SVB Wealth LLC purchased a new position in shares of Confluent during the 1st quarter valued at $54,000. 78.09% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research firms recently issued reports on CFLT. JMP Securities decreased their target price on shares of Confluent from $40.00 to $36.00 and set a "market outperform" rating on the stock in a research report on Thursday, May 1st. Royal Bank of Canada lifted their target price on Confluent from $36.00 to $41.00 and gave the company an "outperform" rating in a report on Wednesday, February 12th. Scotiabank dropped their price target on Confluent from $35.00 to $24.00 and set a "sector perform" rating for the company in a research note on Thursday, April 24th. Raymond James began coverage on shares of Confluent in a research note on Friday, April 11th. They set an "outperform" rating and a $30.00 price objective for the company. Finally, Stifel Nicolaus decreased their price target on shares of Confluent from $40.00 to $30.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, six have given a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Confluent has a consensus rating of "Moderate Buy" and a consensus price target of $30.11.
View Our Latest Stock Analysis on CFLT
About Confluent
(
Get Free Report)
Confluent, Inc operates a data streaming platform in the United States and internationally. The company provides platforms that allow customers to connect their applications, systems, and data layers, such as Confluent Cloud, a managed cloud-native software-as-a-service; and Confluent Platform, an enterprise-grade self-managed software.
Featured Stories
Before you consider Confluent, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Confluent wasn't on the list.
While Confluent currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
